FX.co - USD/JPY analysis for August 18 2021 - Breakout of the inside day to the upside

2021-08-18T13:58:29

Relevance until2021-08-19

Technical analysis:

USD/JPY analysis for August 18 2021 - Breakout of the inside day to the upside

USD/JPY has been trading upwards today and there is the breakout of the inside day formation in the background.

Trading recommendation:

Watch for buying opportunities on the pullbacks with the major upside target at the price of 110,35.

Stochastic oscillator is showing fresh bull cross, and potential for the rally....

Support is set at the price of 109,50

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/JPY analysis for August 18 2021 - Breakout of the inside day to the upside